Trump has announced reciprocal tariffs on dozens of American trading partners, as well as new tariffs on copper and pharmaceuticals.

Commodities traders are racing against time to unload as much Brazilian coffee as possible in the United States before Trump's new 50% tariff on Brazilian products is implemented on August 1, they said on Tuesday.

Russia continued its nightly bombardment of Ukrainian cities overnight into Tuesday, after President Donald Trump said the U.S. would send military equipment to Kyiv.

Inflation accelerated in June as President Trump’s tariffs started to leave a bigger imprint on the economy, keeping the Federal Reserve on track to hold interest rates steady when policymakers next meet this month.

Approval for Brazilian President Luiz Inacio Lula da Silva's government rose for the first time this year, a new poll showed on Wednesday, after his U.S. counterpart Donald Trump announced a 50% tariff on imports from Brazil starting in August.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

The pause on the biggest of Trump's tariffs won't end this week, as planned, but the problems they present still loom large.

The move comes amid a separate push by President Trump to increase tariffs on dozens of U.S. trading partners, including Mexico, which was told over the weekend to expect 30% tariffs starting in August.